Internet reports that the corporate finance department of the U.S. Securities and Exchange Commission (SEC) has just issued guidance on stablecoins. The agency coined a new term-"Covered Stablecoins" to refer to Stablecoins that "maintain a stable value of 1:1 relative to the U.S. dollar, are convertible into U.S. dollars at a ratio of 1:1 (i.e., one stablecoin is exchanged for one U.S. dollar), and are backed by low-risk, highly liquid assets held in reserves whose dollar value equals or exceeds the redemption value of the stablecoin circulation." The department said that "regulated stablecoins" are not offered or sold as investment contracts, and those involved in the "minting" and redemption process do not need to register transactions with the committee, so they are not within the jurisdiction of the SEC. Analysts at The Block said that USDT and USDC fall into the category of "regulated stablecoins." The statement does not cover algorithmic stablecoins, income-based stablecoins or stablecoins that track the value of assets other than the U.S. dollar.